It’s My Imagination

CHASE – Losing Customer Loyalty

I have a credit card from CHASE bank, I’ve had this cc for many, many years.  I’ve been a loyal and good customer to them over the years.  I’ve carried a balance, but have always paid on time, usually more than the minimum required and several times have even taken advantage of their balance transfer offers.   The last time was to consolidate our other credit cards into one account, taking advantage of a 4.99% interest rate that was valid until the balance was paid off.    As I said, I’ve been faithfully sending in my monthly payments, always on time (sometimes even early) and almost always, more than the minimum due.

Well, CHASE decided to change the calculation for the minimum due and by doing so, more than doubled my minimum payment.  Now, I’m not sure about you, but I am not able to just change my budget in this way, I do have other monetary obligations including mortgage and utilities that I must pay every month.  Keep in mind, I’m not talking about an increase in minimum payment of $50-100, I’m talking close to $600 more per month than what I was paying before!  WHAT THE HELL?!

I called their customer service today and, after waiting on hold for over 10 minutes, I spoke to a lady who spoke very broken English and was told that yes, they could return the minimum payment to the original calculation, but, I would have to pay a higher interest rate and, the rate would convert to the standard cc rate effective 24 months from now.  I asked to speak to a supervisor and was informed that there was nothing more they could do.  I insisted.  I was transferred to someone I could actually understand and was given the same information.  I asked why, a loyal, trustworthy customer with an excellent credit history and customer of CHASE for many years would be treated this way and was not given an answer.  Instead, I was transferred to another woman who didn’t speak English well who informed me that if I would like to keep my current interest rate AND current minimum payment, I could be considered as a hardship case, would have 18 months to pay my account off and then my account would be closed!  WHAT THE HELL?!

I informed this woman that I was not wanting to close my account, I just wanted to be treated fairly and have my account treated the way it deserved, excellently.  I didn’t not feel this was being done, so, she transferred me (if you’re keeping count, this is transfer #4) and I was on hold for another 10 minutes.

I finally got to Will, an English speaking young man who I did not feel deserved my aggression that I was feeling by now and so, accepted the higher interest rate with the lower minimum payment calculation and asked for the address of where I could mail an official complaint regarding the change in terms on my account.  I feel defeated and extremely disappointed in CHASE.  And to think, I had recently been thinking about moving our bank accounts to one of their nearby branches!  NOT gonna happen!